D.C. housing recovery in full swing

While the housing recovery is in full swing in Washington D.C., inventory is tight with home sellers receiving multiple offers and buyers competing with investors all-cash offers. In a sense, it is like 2006 all over again, with offers coming in well above the original asking price and no inspection contingencies. Per the Washington Post:

Home values are rising slowly in communities that are farther out, making it more difficult to reduce the higher-than-average share of underwater properties. For instance, last month, 22% of active listings in Prince George’s County and 16.2% in Charles County were potential short sales, according to RealEstate Business Intelligence, a subsidiary of Rockville-based multiple listing service MRIS.

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Articles written by HousingWire Staff are non-bylined, and typically involve press release coverage and aggregation of coverage appearing elsewhere. So who put all these together? Our entire staff does!

This month inHousingWire magazine

The appraisal industry is in the midst of huge disruption as automated valuation models and hybrid appraisal products gain favor with regulators and investors. What does the future hold for appraisers and appraisal companies as they adjust to the new realities of automation?

Feature

As Millennials grapple with paying off student loans, their opportunity to buy a home gets pushed further and further into the future. That delay has consequences far beyond individual students — the growing student debt crisis impacts every part of the economy.

Commentary

There has been a conscious and rapid shift to broaden the use of alternative valuation products for origination. Not every decision needs a $500, full-blown 1004 interior appraisal. And in some markets where appraisers are short in number, the turn times can stretch from days to weeks. What these new alternative — some would say disruptive — valuation products do is enable lenders and servicers to better match the product to the risk by harnessing big data and technology.